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The new Global Corporate LMS Report is out!
Let us see what the primary takeaways are from the report
The global corporate market for LMS is expected to grow from 8.1 billion in 2022 to 21.7 billion in 2027, with a compound annual growth rate of 21.1%.
That is huge!
The global report by research and markets is out, and we are astonished by the growth of the LMS industry. Various factors impact the growth of corporate LMSs, including the need for interactive and personalized learning, increased productivity, growing eLearning demands, and the pandemic. Let us see what the primary takeaways are from the report:
1. We can see a high adoption rate of cloud-deployed LMS incorporates in the last few days.
The corporate LMS is a standalone and integrated solution, and many enterprises are using it as the sole solution for the learning management system. The content management and integration of all constituents help in expanding the market for the LMS.
2. The cloud segment will grow the highest as per the forecast
Organizations now are focusing more on economical ways of leveraging training programs; this is amplifying the need for a cloud-based LMS.
The following mode also helped in improving centralization, flexibility, data collaboration, and reducing data loss for enterprises.
3. Large enterprises will grow at the highest market size
The corporate LMS market for larger enterprises is scaling at an outstanding rate. There has been a great demand for cloud-based LMS solutions as they help streamline course accessibility throughout the organization.
What are the current LMS market dynamics?
Key drivers for the market
Demand for advanced LMS for content management.
Objective-driven training to improve employees’ skills.
Creating personalized training courses for the audience
What are the roadblocks?
Lack of the ability to measure ROI
Organizations restraining changing the present courses to micro courses.
What are the opportunities to grow?
Growth in virtual online training.
Developing a better training environment with LMS
I hope you had an insightful read about developments in the LMS market. We will come up next week with more exciting topics. Till then, stay tuned!
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